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2 Apr 2020
US Treasury to tap Wall Street advisory firms on airline aid – WSJ
The US Treasury Department plans to hire PJT Partners Inc Moelis & Co and Perella Weinberg Partners to advise on the airline portion of Washington’s $2 trillion stimulus bill, the Wall Street Journal reported on Wednesday, Reuters News reported.
Each firm is likely to advise on aid to one of three subsectors: commercial airlines, cargo carriers and firms critical to national security, such as Boeing Co (BA.N), the report said, citing people familiar with the matter.
The appointments could be disclosed this week, WSJ said, adding the plans are yet to be finalized.
US House Speaker Nancy Pelosi urged the Treasury earlier in the day to not hold up $25 billion in cash grants approved by Congress last week to airlines for payroll costs.
Markets bleeding out
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Wall Street Close: Bruising losses in US stocks resulting in the worst start to a quarter on record
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Asian shares drowning in Wall Street's sea of red